A Beginner's Guide to Digital Assets with Reagan Cook Beyond The Ordinary

In today’s episode, Tommy talks with Reagan Cook, Tax and Accounting specialist for crypto and digital assets at TaxBit.
Digital assets have grown in popularity and momentum in today's world, with Bitcoin and Ethereum being the most popular cryptocurrencies. Cryptocurrency is the new economic norm. It offers a new financial system that is decentralized. Although it can be used to buy goods, crypto has so much more potential than just being another form of currency.
Tommy talks with Reagan about digital assets, the top cryptocurrencies used in the digital market today, and how crypto works in the virtual world.

Key Takeaways

[02:35] - What are digital assets?

[07:05] - How are cryptocurrencies protected against money laundering or other crime?

[09:36] - What is blockchain technology?

[12:58] - How digital wallets work.

[14:05] - The top cryptocurrencies on the digital market.

[17:21] - What NFTs are and how they work.

[21:53] - Why NFTs are becoming a hit in the digital asset space.

[28:46] - The concept of the metaverse.


Quotes
[02:37] - "Cryptocurrency is one of the most common forms of digital assets. Think of it as a token that you can purchase on specific exchanges and pay for other goods and services with." - Reagan Cook
[09:37] - "Let's think of blockchain as a completely digital ledger. Let's think of computers across the entire globe constantly recording. Every time there's a transaction, a unique ID on that blockchain network is generated, which means that every transaction that occurs is correct and uniquely identified and stored on this blockchain network." - Reagan Cook
[15:20] - "The digital asset space, in general, what makes it unique is that it is demand-driven. Right now, these cryptocurrencies are extremely volatile and the demand is driven on the actual application of that cryptocurrency." - Reagan Cook
[17:47] - "NFT stands for non-fungible token. It represents images that we're seeing online that are selling for millions of dollars. NFT is not just a picture. It is anything from the virtual world, virtual clothing, photos, and music. This is all being monetized through the use of cryptocurrency." - Reagan Cook

Links 

Reagan Cook on LinkedIn

TaxBit

Bitcoin

Ethereum

OpenSea

Discord

Tim Tebow

The Sims

Ralph Lauren

Zepeto

Markets Daily Crypto Roundup Podcast

Coinbase Bytes


Connect with our hosts

Mammoth

Tommy on LinkedIn


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